Africa-Press – Eswatini. The Public Service Pension Fund has engaged the services of an investment consultant.
Riscura Solutions Eswatini (Pty) Ltd was the best evaluated tenderer for the multimillion job.
The exact proposed contract price by the tenderer was E4.5 million.
The Eswatini based company was competing with four other companies for the tender and emerged victorious.
Riscura is expected to work with the investment team to report to the Board of Trustees on the formulation of numerous strategies that relate to the investing of the pension contributions made by members and assets of the Fund.
The appointed service provider is expected to perform the Asset Liability Model (ALM) exercise with a view to recommending an optimal strategic asset allocation for the PSPF based membership profile, taking into consideration, the size of the Fund relative to market constraints, the Eswatini pension funds regulatory environment, relevant local and international market trends amongst other things.
The scope of work also includes formulation and annual review of an investment strategy for the Fund, taking into account the Fund’s investment’s objective and constraints. Riscura will also be looking at an optimal strategic asset allocation including tactical asset allocation ranges and the structure of each assets.
Reports are to the effect that the Public Service Fund’s (PSPF) net surplus increased to E1.57 billion in the period between September-December 2021 from E0.77 billion during the past quarter July- September 2021.
In the ministry of public service 2022/2023 first quarter report that was adopted in Parliament, it was disclosed that despite the challenges posed by COVID-19, the fund performed well on all its strategic targets for the fourth quarter of the financial year which ended March 31, 2022.
Budget
It was disclosed that a net loss of E20 million was made against a budget of E508 million, resulting in a negative of 96 per cent below the quarterly budget.
It was explained that the net loss was mainly attributable to revaluation losses being below the quarterly budget of E137 million due to foreign markets self-adjustment.
PSPF mentioned that total assets of the fund decreased from E30.314 billion to E30.294 billion, translating to zero per cent quarterly increase in total assets against a quarterly inflation rate of 3.5 per cent per annum.
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